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Discussion Starter · #1 ·
I bought a new Honda Ridgeline in September 2018 for the total price of 42k including GST. Yesterday I put up for sale on Marketplace[ FB] for a price of 43.9k . Within an hour I had 6 prospective buyers. The first guy to show offered me 40k and I agreed to that price. I changed its online status to being a pending sale. Some of the interested parties said they were willing to pay more then the 43.9 if I could get out of deal. I proceeded to sell to the first guy. The local dealers in our area have little or no new inventory. The supply chain problems are certainly impacting the manufacture of vehicles. I sold because we have another vehicle and we realized we don't need two vehicles. I was interested in buying a new Toyota RAV Prime . The dealer said I could get on his list for a three year wait. The transition to electric vehicles will not be a quick or smooth transition.
 

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I was considering buying a new vehicle last year. Left it too late. It became a sellers market so we decided to pass until the market returns to normal.

Our Honda and our Toyota are both 15 years old but are low kms in great condition so we can wait this out.
 

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I bought a 2012 model in 2014 that was discontinued that year.

It's worth more than I paid 8 years ago and it will probably continue to go up. Very low miles and I take car of cars. I'd sell it but new models are only getting worse imo

I need to sell a few motorbikes while the market is hot though
 

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I have been out checking the lots on Sundays when their are no sales people to drive me nuts looking for the a used SUV type vehicle such as a Honda CR-V, Toyota FAV 4 etc and the prices are nuts. Considering just keeping my 2014 Honda Civic Sedan and putting a new set of tires (they will be needed this year) for my trip down east this summer. My main reason for wanting to switch is to try and find something a little bigger for gear and most importantly a addjustable; comfortable drivers seat with lumbar support if possible. Maybe I can find a good quality drivers seat back cushion of some kind. Even though the price I could get for my car is good your no farther ahead as when you buy its costs more so overall no advatange unless you downsizing from two vehicles to one.
 

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Given my ~1 year monitoring of FB Marketplace locally, the 'wild' used vehicle market varies a lot depending on vehicle type and vintage. Mainstream SUVs, pickups and efficient sedans are especially in demand with high prices while sports sedans appear to be much less so. I sold a 2007 Infiniti M35X recently and while I did well for that vintage, the market for these types of vehicles, e.g. luxury Audis, BMWs, Acuras, et al, and its age, is not as strong as say a reasonably loaded Altima, Camry or Accord of 5-10 years of age.

@newfoundlander61: You might consider swapping out your current Civic for something with a higher trim, e.g. 6 or 10 way power seats, of similar vintage. Take a daily look on AutoTrader or FB Marketplace for the next month and you may find swapping out may not be that costly. The used vehicle market is not going to resolve itself for at least 24 months. The chip shortage is going to constrain new vehicle production for at least 12 more months and there is pent up used vehicle demand to be replaced thereafter for another year or so.
 

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Given my ~1 year monitoring of FB Marketplace locally, the 'wild' used vehicle market varies a lot depending on vehicle type and vintage. Mainstream SUVs, pickups and efficient sedans are especially in demand with high prices while sports sedans appear to be much less so. I sold a 2007 Infiniti M35X recently and while I did well for that vintage, the market for these types of vehicles, e.g. luxury Audis, BMWs, Acuras, et al, and its age, is not as strong as say a reasonably loaded Altima, Camry or Accord of 5-10 years of age.
The market has always had some inefficiencies. I know a guy who bought a used Avalon for quite a bit less than a similarly spec'd Camry, similarly someone who bought a Volvo S60 for less than the similarly spec'd Camry.
I think Audis, Acuras and Infinitis have less mindshare in the luxury market and you can get some really nice deals on really nice used cars.
 

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The market has always had some inefficiencies. I know a guy who bought a used Avalon for quite a bit less than a similarly spec'd Camry, similarly someone who bought a Volvo S60 for less than the similarly spec'd Camry.
I think Audis, Acuras and Infinitis have less mindshare in the luxury market and you can get some really nice deals on really nice used cars.
Yea exactly. There's always been deals on used luxury/sports vehicles if you are patient and do your research

Most people in that market want something new and most people buying used will search for the budget brand etc

I've had great luck with used vehicles and know others as well. It's a matter of knowing vehicles
 

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Agreed. Just as the market for used luxury/sports vehicles is smaller (lower demand), it goes without saying that anyone in the market looking to buy such a vehicle can do well.
 

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I bought my Santa Fe in 2017, used.

For the last two plus years, two different dealers call regularly to say they are interested in buying, whether for a new vehicle or cash. With how empty their new and used lots are, I expect the calls to keep coming. :)

Their interest seems to increase when the low kms are mentioned.


Cheers
 

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I bought my Santa Fe in 2017, used.

For the last two plus years, two different dealers call regularly to say they are interested in buying, whether for a new vehicle or cash. With how empty their new and used lots are, I expect the calls to keep coming. :)

Their interest seems to increase when the low kms are mentioned.


Cheers
They should love our 2007 Solara ragtop. It has 115 KM on the clock.
 

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Discussion Starter · #11 ·
I have a top end 2014 Nissan Maxima that just reached a 100k. Bought it last June from a one owner older gentleman for 12k. I really like this car and suspect the price would much higher today. It is the vehicle we will rely until the auto industry has advanced well into the transition to EVs.
 

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I have a top end 2014 Nissan Maxima that just reached a 100k. Bought it last June from a one owner older gentleman for 12k. I really like this car and suspect the price would much higher today. It is the vehicle we will rely until the auto industry has advanced well into the transition to EVs.
That is how we bought the 07 Solara five years ago $10K. Private sale. 96KM on the clock. Garaged and never driven in the winter. Soft top was like new as was the leather interior. Full load, leather, etc. Took some time to find a good one...had to drive to Edmonton from Calgary to get the 'right' one.

One of our friends picked up a seven year old Lexus 350 the same way. It was in like new condition-owner wanted to replace it with an SUV.
 

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I have a top end 2014 Nissan Maxima that just reached a 100k. Bought it last June from a one owner older gentleman for 12k. I really like this car and suspect the price would much higher today. It is the vehicle we will rely until the auto industry has advanced well into the transition to EVs.
There is a 2014 loaded Maxima in Surrey with 103k on it for just over $19k on AutoTrader. AutoTrader is a great place to see what others are asking for vehicles. Just select Provincial rather than 100km radius for area of interest to get a better feel for pricing range.
 

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Discussion Starter · #14 ·
There is a 2014 loaded Maxima in Surrey with 103k on it for just over $19k on AutoTrader. AutoTrader is a great place to see what others are asking for vehicles. Just select Provincial rather than 100km radius for area of interest to get a better feel for pricing range.
I ran it through Edmunds .ca for private sale pricing. It gave me an average price for the Calgary area at a shade over 21k.
 

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What are people seeing on the dealer trade-in margins vs. private sale? Are they lessening? Obviously the traditional advice is to sell privately for a higher price, the dealers will hose you. Is that still true?

I suppose I should just list up my SUV two weeks prior to receiving my new Van, and see what price the interest is at, and what the dealer will offer. I'm not super interested in the hassle of a private sale if it'll only make me $2k extra to take on the aggravation and risk.
 

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You save the HST taxes on a new vehicle if you trade in your old one.

Example.....if your new vehicle is $30,000 and your trade in is valued at $10,000....you only pay taxes on the $20,000 difference.

Depending on the value of the trade-in, it offsets some of the extra $$ you may get selling privately.

The hassles of selling a vehicle privately keeps me trading our vehicles in.

No safety certificate needed, no waiting for buyers to show up, no providing a used vehicle package, no making sure the new owner changes the ownership etc.

I don't need or want those typical hassles.
 

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I am guessing it is very vehicle dependent. Vehicles people hunger for but cannot get.

One way is to test the private market with FB Marketplace and AutoTrader ads at a firm price X$ above what the dealer is currently offering you on trade-in in your contract. For example, $18k private sale on the dealer trade-in value of $14k. You probably need at least a 20-25% margin uplift to make it worthwhile, e.g. to offset the tax savings with a trade-in plus the hassle of a private sale. The dealer may well re-list that $14k trade-in after detailing/touch up at $19-22k.

P.S. Make sure you can withdraw the trade-in on your contract first without voiding the contract itself.
 

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Dealers mark up the price, but they often offer a few extra incentives as well.

They may provide financing options, a used car warranty for 30-60 days, or a "bring the car back if not satisfied" for 30 days, or a couple of free oil changes.

Bottom line......a seller will usually get more $$ from a private sale, but some buyers will only buy from a reputable dealer they trust.

Also private buyers can be a real pain in the ***. For example people wanting to take the vehicle for a test ride by themselves.

There even was a case a couple years ago of a guy who advertised his truck for sale. A couple guys showed up and he took them for a test drive.

They shot the guy dead and stole his truck. Fortunately, they got caught and were found guilty at trial........but it didn't do the guy much good.

I am also always hesitant to invite strangers to my home address for any reason. They could be just scouting out a future "robbery" or worse.

When you hear statistics of how many people are driving around without any insurance or licence.......it makes you wonder about people.
 
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